Since you don't really have any third party software installed which is known to cause Kernel Panics, your laptop has a hardware failure with the Logic Board. It is not surprising since this particular model laptop (MBPro 16" 2019) has an extremely high rate of Logic Board failures for multiple reasons....even the replacement Logic Boards Apple installs during the repairs are known to fail (there are multiple reports from users on this forum mentioning the replacement boards failed at first use after the repair & Apple performed another Logic Board replacement).
You can try a DFU Firmware Restore to reset the T2 security chip, system firmware, and internal SSD, but I doubt this will actually help in this case (it is your only possible recourse to try that does not involving money). Unfortunately you will need access to another Mac running macOS 15.7.3+ to perform this procedure and it will destroy all data on that "broken" 2019 laptop. After the procedure, you will need to reinstall macOS through Internet Recovery Mode (the only option available until macOS is reconfigured on the internal SSD).
FYI, I doubt the Apple Diagnostics will reveal any problems. Even the Apple service diagnostics are unlikely to reveal anything either. The diagnostics from Apple have become ever more worthless over the last decade. Plus the only useful diagnostic result is one which actually produces an error condition.
I'm glad to see you have been backing up your laptop. Good job there.
I personally don't recommend spending any money to repair any Intel Macs, but especially not a MBPro 16" (2019) model for multiple reasons. The money spent on repairs is much better put towards a new laptop. The M-series Macs will run circles around this 2019 laptop and will run much cooler as well.